Polish Ministry Sees Higher Interest Rates, Zloty, Rzeczpospolita Reports

Poland’s Finance Ministry expects the central bank to raise the main interest rate by 25 basis points this year and predicts the zloty will appreciate in 2011, Rzeczpospolita newspaper reported today, citing a draft budget approved by the government yesterday.

The government expects the main interest rate in Poland will rise to 3.75 percent by the end of this year from 3.5 percent and will average from 4.7 percent to 4.8 percent in 2012-2014, the newspaper said. The budget assumes that the average zloty exchange rate will rise to 3.75 per euro from 3.94 per euro yesterday and 2.88 against the dollar in 2011, Rzeczpospolita said.

To contact the reporter on this story: Piotr Skolimowski in Warsaw at pskolimowski@bloomberg.net

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